DEBT RECOVERY TECHNIQUES IN THE BANKING SECTORS ISSUES, PROBLEMS AND PROSPECTS

ABSTRACT

When some banks in the system are distressed, it is in the best interest of the nondistressed one that an effective resolution of the distressed it carried out. This is because, the distress in one bank which leads to a loss of confidence in the affected bank can also affect confidence in the entire banking system, the corporation requires an enormous amount of money which it does not have at the moment given the age and size of the insurance find. Bank customers expect their bankers to provide them with loans and advances to make up the shortfall in their required find the ability of the bank to maintain profitability depends largely on the extent to which the credit policy and debt recovery techniques are maintained.  The credit-control department is the center of banks and as such, they are charged with the responsibility of making proper use of the shareholders’ funds of the public at large. The union bank of Nigeria PLC has been chosen for this work. The study is carried out to examine the debt recovery techniques employed by the union bank of Nigeria PLC towards the effective running of the bank as a lending attitude and preferring solution as deemed appropriate. The case study method was adopted in carrying out the work and debt were collected from the secondary and primary source. Secondary source’s information includes the use of existing literary coupled with the use of some journals and other unpublished manuals were seen to be useful for this work.

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